The Progressives Yoruba Youth Congress, PYYC, has called on President Bola Tinubu on Sunday to intervene in the festering political crisis in Rivers State.
The president of the group, Akintunde Adedeji, who addressed journalists, urged Tinubu to openly state his position on the crisis in Rivers State by directing that all government institutions act according to the law.
“We call on the 27 former Rivers State House of Assembly members to seek proper legal guidance on the choices available to them going forward since it appears they are not beneficiaries of sound legal counsel based on their past and ongoing actions.
“We say this because the rest of Nigeria will hold them individually and collectively liable, with Wike their boss, for any breach of the peace in Nigeria arising from their misadventure,” Adedeji stated.
The group added that the call for Tinubu’s intervention was necessary to nip in the bud the insinuation that a Yoruba president is part of those allegedly destroying Rivers State.
A Nigerian-born Professor of Pharmaceutical Nanoscience, Ijeoma Uchegbu, has been announced as the 7th President of Wolfson College, one of the 31 colleges of the University of Cambridge.
This was disclosed in a statement on Sunday by Abdur-Rahman Balogun, the spokesman of the Nigerians in Diaspora Commission (NIDCOM).
He said Hon. Abike Dabiri-Erewa, Chairman/CEO of NiDCOM rejoiced with her, describing the appointment as well deserved.
She said the appointment of Professor Uchegbu did not come to her as a surprise knowing her pedigree in the field of research and knowledge.
“Her appointment has further confirmed that there is a reward for hard work and Nigerians abroad are endowed with people of integrity and excellence,” the statement quoted her as saying.
Prof. Uchegbu, known for her ground-breaking work in nanoparticle drug delivery, is currently a Professor of Pharmaceutical Neuroscience at University College London (UCL).
She will succeed the current President, Professor Jane Clarke, on October 1, 2024.
She completed her pharmacy studies at the University of Benin in 1981 before attending the University of Lagos to obtain her master’s degree.
In the last week, the NIDCOM boss has had cause to celebrate seven Nigerian achievers on their various global appointments and awards.
They include Dr Olusimbo Ige, the first black female Commissioner of Health in Chicago, Dr Oluwatosin Olateju, the first black woman Commissioner for Public Health in Maryland and UK-based Fene Osakwe, a winner of the Global Cyber Security Educator of the Year.
In the field of sports, Asisat Oshoala, Victor Osimhen and Chiamaka Nnadozie were celebrated for winning the 2023 Confederation of African Football (CAF) Awards.
About a week to Christmas Day, shoppers have condemned the worsening naira scarcity, with many of them expressing frustration over their inability to make vital purchases for the Yuletide celebration.
Findings by The PUNCH on Sunday revealed that banks were still rationing cash over-the-counter, while several Automated Teller Machines visited did not dispense cash.
Our correspondents who visited ATM galleries in Lagos, Abuja, Osogbo, Makurdi, Sokoto, Edo, and Gusau, among others, observed that many of the machines had run out of cash.
On Friday, many bank customers could not get access to cash OTC in many baking halls across the country.
This was despite assurances from the banking regulator, the Central Bank of Nigeria, that more cash had been released for economic activities.
Meanwhile, The PUNCH checks over the weekend showed that many poultry sellers and local stores were insisting on cash as a means of payment for their goods.
A roadside trader in Abule Egba, Lagos, who simply identified herself as Mama Sule, told one of our correspondents that “many customers who want to buy onions are saying they don’t have cash. I don’t have a bank account, so I can’t accept transfers; sadly, It is affecting my business.”
Also, another trader in Olowoira, Lagos, said, “I am still insisting on cash for payment because I have experienced failed transactions before. If you have cash, I will sell to you.”
A Christmas shopper, Remi Arowolo, said, “I was traveling from Abeokuta to Lagos, I saw cheap tomatoes on the road and when I stopped to buy, they said they could not accept transfer from me; they insisted on cash. I wanted to buy them in large quantities ahead of Christmas, but I could not buy them.”
Also, a Point of Sale operator in the Mokola area of Ibadan, Oyo State, who simply identified himself as James, said, “I cannot get enough cash for my business; my business is suffering. I am not making a profit and Christmas is near, no money to spend this Christmas. It is sad.”
However, some sources in the bank who would not want to be named, said the banks could only give out cash if they had.
A top bank official of one of the commercial banks said, “We are still rationing cash to customers, but if the cash supply increases, we will give out. We don’t have enough even for our ATMs. Maybe if the CBN released more cash, we should have more.”
When our correspondent visited some ATMs in Abuja on Sunday, none of them was dispensing cash to customers.
The ATM galleries belonging to GTBank, Zenith Bank, Stanbic IBTC and UBA located along Airport Road did not dispense over the weekend, although security officers at the facilities said the cash had been withdrawn by some customers.
In the Ojodu area of Lagos, one of our correspondents visited ATMs belonging to First Bank, EcoBank, Union Bank, Access Bank, Zenith Bank and GTCO, on Ogunnusi Road; none of the ATMs had cash on Sunday.
Some bank customers, who were around the ATMs, expressed frustrations for their inability to get cash.
When our correspondent visited a branch of Sterling Bank along Ikotun-Idimu Road on Sunday afternoon, customers were seen stranded as the bank’s ATM did not dispense cash.
One of the customers who did not want her name mentioned, said, “We have been here for a long time now, and the ATM didn’t dispense. I am not the only one here, we are more than five. I wanted to collect some cash to enable me to transport myself to my house in Ayobo, but this is not dispensing. I don’t know what happened.”
Another customer who simply identified himself as Harry, said “This is frustrating, coming back from church, I decided to stop here and get some money to buy some items for the week but the ATM is not dispensing. I had visited some other banks, but the ATMs were not dispensing cash.
Also when The PUNCH team visited a Zenith Bank branch on the same stretch, it was observed that though there was little or no queue at the bank, the ATM was not dispensing.
Also, when one of our correspondents visited the Guaranty Trust Bank at Omole Phase 2, Olowora, Lagos, it was discovered that none of the five ATMs at the GTBank branch was dispensing cash.
The security officer who resumed on Sunday afternoon said he met the ATMs empty.
However, customers were able to make e-payment transfers with the machines. Some of our correspondents observed how two customers used the facility for e-transfers.
Mrs Esther Akinbo, a businesswoman in the Ojodu area of Lagos told The PUNCH that there was severe scarcity of cash over the weekend, a situation that hampered her Christmas shopping.
As a result, she said she could not make vital purchases ahead of the Christmas and New Year celebrations.
She said, “I don’t go to ATMs because my card has expired but that has never been an issue. But since last week, cash seems to have dried up and customers are no longer paying in cash and prefer to do transfers, so it has now become a problem.
“I have also minimised my cash spending, but I hope we don’t see a repeat of the scarcity issue we had early this year. The painful part is that I couldn’t get cash to shop for Christmas too. I need things for Christmas for my family,”
Another Christmas shopper, who identified himself as Mr Tunde Ogunde, condemned the cash scarcity, saying the situation had marred his preparation for Christmas.
“I believe we should do something about the cash scarcity, it has become worse. Poultry sellers and many petty traders are insisting on cash, which is affecting Christmas shopping.
At the Bwari Area Council of the FCT, the ATMs did not dispense cash.
Most banks available there comprising of First Bank, Zenith Bank and Polaris did not have cash in their machines.
PoS charges
The cash crunch made point-of-sale operators increase their service charge fee by at least 100 percent.
Findings showed that N200 was collected as a service charge for withdrawals of N5,000, and below, N400 for N10,000, N800 for N20,000, N1,300 for N30,000 and so on.
When The PUNCH queried the reasons for the price hike, a PoS operator, simply identified as Kunle Idowu, said it was the option to keep his business afloat as he had to source for cash from traders and market sellers.
He said, “On Friday, I went to the bank so, I could have enough cash for my customers during the weekend but to my surprise, the bank said, they could only give me N10,000 over the counter. What do you want me to do?
“I had to start begging traders and market women to help out. I have to keep the business afloat too, so the CBN and government should ensure that there is sufficient cash.”
A resident in Isheri, Lagos, Dupe Leke, said, “People now patronise the PoS operators who charge 100 percent of the previous charges on withdrawal.
“For instance, at a PoS stand, N5,000 now costs N200 against N100 in the months preceding the cash scarcity.”
Many Nigerians have opted for bank transfers to make payments for goods due to the prolonged scarcity of naira.
Traders, who spoke to our correspondent, said they preferred cash payment to bank transfer due to the high bank transfer scams recorded earlier in the year.
A trader, who sells food items, said, “Even though I accept bank transfers, I am afraid of the possible rise in the number of bank transfer scams that happened earlier in the year. So, I look at my customers well before I accept a transfer.”
A Lagos resident who spoke with our correspondent on condition of anonymity said, “I mostly use electronic payment and it has been hassle-free, no hike in the charges.”
At the World Bank, Nigeria Development Update, December 2023 edition, the Governor of the Central Bank of Nigeria, Yemi Cardoso, said that the prevailing cash scarcity was a result of the poor implementation of the naira redesign policy, which had resulted in hoarding by some Nigerians.
The CBN boss, acknowledging the glaring defects in various CBN policies, announced a comprehensive review initiative.
He said, “The apprehension surrounding the policy’s end date, well before the third quarter, triggered widespread hoarding. Many feared the old notes would lose legal tender status, prompting them to hold onto their cash.
“Unfortunately, the history of that lies with the naira redesign policy and coming to the end of the year, way before the third quarter, there was a lot of apprehension with respect to where this was all going to end; and whether the old currency would no longer be good for legal tender and many started hoardings.
“This is really what happened. Happily, the Supreme Court has decided that the currency will be valid post-end of the year.”
Also, the CBN said the amount of cash in circulation currently stood at N3.4tn.
A statement by its acting Director, Corporate Communications, CBN, Mrs Hakama Sidi-Ali, said, “There is indeed an increase in currency in circulation. From N1tn in February 2023, we have seen a rise to over N3.4tn as of December 11, 2023. This demonstrates that enough cash is available, but unfortunately, it’s not circulating due to apprehension among some individuals.”
States lament
Naira scarcity has hit Makurdi, Benue State capital and environs as queues surfaced at the ATM gallery since Saturday.
Consequently, banks have limited the amount customers can withdraw.
A Point of Sale man, who simply identified himself as Julius, told our correspondent on Sunday, “I went to the bank yesterday, (Saturday) to withdraw money, but there was a long queue and the highest amount you can withdraw at FirstBank if it is your bank was N40,000 with your ATM.
“But if it is a different ATM, the highest amount customers could withdraw was N20,000.00.”
As a result of that, Julius said that the commission charged by POS had doubled since Saturday.
Commercial activities were at a standstill in Gusau and other parts of Zamfara State following the naira scarcity experienced by the people of the state.
Checks by The PUNCH showed that the ATMs were not dispensing money to customers, while POS operators were charging exorbitant fees.
POS operators were charging N300 for every N10,000 withdrawal due to the cash crunch.
In Benin, Edo State, there was a scarcity of cash with ATMs in major banks not dispensing more than N20,000.
The POS operators, who had cash, were having a field day as they charged exorbitant commissions for cash withdrawals.
POS operators in Minna, the Niger State capital, lamented that Deposit Money Banks had started rationing cash to them, which had forced them to also ration it to their customers.
ATMs dry up
A female operator, Hauwa Abdullahi, told The PUNCH that there was an obvious shortage of cash in the banks and ATMs were not dispensing cash.
Abdullahi said, “Banks have started experiencing a shortage of cash as the ATMs are not functioning properly. While the bankers are eager to collect from those depositing, they are reluctant to pay people withdrawing in full.”
Another operator, Timothy Nnadozie, expressed surprise that the cash crunch came up after the Federal Government had directed that both the old and new naira notes should be in use simultaneously and indefinitely.
“I can’t understand what is happening in the country. Only last week, the Federal Government directed that both the old and new notes should be accepted by Nigerians. Why are we not seeing enough money in circulation?” he asked.
PoS in Rivers State have cried out over the scarcity of cash in the state. They said the banks were limiting their withdrawals, making it difficult for them to satisfy their customers.
A PoS operator, who gave her name simply as Sarah, said, “Even now, some ATMs in some banks were dispensing cash. If you visit a bank to withdraw N100,000, they will only give you N50,000, and it is not enough for us.”
Our correspondent observed the number of ATMs dispensing cash in banks had reduced.
Many ATMs at different commercial banks within Osogbo metropolis, on Sunday evening, were not dispensing cash.
Specifically, at the FirstBank branch, Ayetoro and Wema Bank, Igbona, in Osogbo, ATMs were not dispensing cash when our correspondent visited them on Sunday.
A bank worker, who preferred anonymity while commenting on the situation, said that the Central Bank f Nigeria, Osogbo Branch had not been giving cash to commercial banks in the state in recent time.
“We rely solely on deposits from customers for cash in the last few days and people are not depositing cash lately. CBN is not giving commercial banks cash. If you move around Osogbo, most ATMs are not dispensing cash. It is because CBN is not giving banks cash,” he claimed.
In Gombe, residents have been battling with naira scarcity as most ATMs have not been dispensing cash.
Confirming the challenges of most residents, Danladi Bako said, “I went to one of the commercial banks, but I couldn’t make a withdrawal from the ATM. So, I had to enter the banking hall. It took the assistance of a member of staff before I got just N10,000.”
Also, another resident of the state, Godiya Iliya, noted that many customers prefer to transfer, adding that “In fact, getting money from POS operators has been difficult. They claimed there was no cash. Many customers just use their ATM cards or do transfers to buy things. When you ask them why, they claim, “No money on the ground’.”
Despite persistent assurance by the CBN on the availability of cash in circulation, residents of Sokoto and Kebbi States have been complaining of cash scarcity.
Our correspondent observed that most of the bank ATMs in the states were not dispensing cash throughout the weekend.
Also, many of the POS in the states had run out of cash as few of them who had cash got it from filling stations or their relatives in the market.
A former member of the House of Representatives, who represented Bukkuyum/ Gummi federal constituency in Zamfara State, Hon. Sani Muhammad Takori has revealed that if Wike defects to the All Progressives Congress, APC, he will be frustrated and humiliated.
Takori advised that the Minister of the Federal Capital Territory, FCT, Wike, should think twice.
Speaking with newsmen in Gusau, the State capital, Takori said that when Abdulahi Adamu came on board as the APC national chairman, he was frustrated by the powers that be.
According to him, since 27 Rivers State lawmakers who are his loyalists have defected, there is every indication that Wike will also defect to the APC, “but he will regret it at last.”
Takori further stated that “if the 27 State lawmakers later decide to reject godfatherism, then Wike will be on his own”.
He lamented that the minister has created serious political tension in Rivers State.
“Though the APC leaders are wooing him to defect to the party, even promised to make him the leader of the party in his State, but if he defects, sorry will be his second name.
“If Wike defects to APC, he will meet his equals with different characters; if he is a betrayer, he will see betrayers, and if he is wicked, he will also meet more wicked people than himself,” he added.
The APC chieftain advised Wike to remain in the Peoples Democratic Party, PDP.
A multi-million-naira mansion located at K-5A/2 Road 14, Victoria Garden City (VGC) estate, Lekki area of Lagos used as clandestine laboratory for the production of methamphetamine by a convicted drug baron, Okenwa Chris Nzewi, has been forfeited to the Federal Government following his successful prosecution and conviction in court by the National Drug Law Enforcement Agency, NDLEA.
Okenwa was arrested along with his associate, Sunny Okeh Ukah on 30th July 2022 and subsequently arraigned on four counts in charge number FHC/L/527C/2022 at the Federal High Court, Lagos.
They both pleaded guilty on 17th July, 2023, while they were convicted and sentenced to four and three years imprisonment each with an option of fine of four million (N4,000,000) naira and three million (N3,000,000) naira respectively in addition to community service for four and three weeks each.
His vehicle marked EKY 496 DJ was equally forfeited to the Federal Government.
To further deny him of enjoying the proceeds of his criminal activity, the NDLEA filed a civil forfeiture charge against the building used as clandestine laboratory at the Federal High Court Lagos which initially granted an interim forfeiture order that elapsed on 6th December before the final forfeiture on 7th December 2023.
Meanwhile, NDLEA operatives in Lagos on Friday 15th December arrested a 75-year-old grandma, Mrs. Sekinat Soremekun for dealing in illicit drugs. At the time of her arrest in Oshodi area of Lagos, quantities of cannabis and litres of codeine syrup were recovered from her.
She claimed her son, Segun who is now at large supplied her the illicit substances which she retailed.
In Imo, operatives on patrol along Owerri-Onitsha expressway on Thursday 14th December intercepted a way-billed consignment containing cocaine weighing 2.287kg.
The shipment coming from Lagos was concealed in cellophane condoms, and heading to Port Harcourt, Rivers State.
A suspect, Isaac Okoh, 45, has already been arrested.
No fewer than 10 jumbo bags of cannabis weighing 100kg were recovered from the ceiling of a dealer, Ibrahim Yahaya, 35, when his house was raided in the Tudun Kofa area of Lafia, Nasarawa State on Friday 15th December while he was also arrested.
At the SAHCO export shed of the Murtala Muhammed International Airport, MMIA Ikeja Lagos, over 1.5 million pills of tramadol 225mg and rohypnol were intercepted in a cargo going to South Africa by NDLEA operatives in collaboration with personnel of the Federal Airports Authority of Nigeria (FAAN).
Two suspects: Bada Olanrewaju Akorede, and Amusan Olufela Sharafadeen have so far been taken into custody in connection with the consignment, which consists: 1,050,000 pills of tramadol 225mg and 510,000 tablets of Rohypnol.
At the Federal Capital Territory, FCT Abuja, operatives on Friday 15th December intercepted a consignment of 1, 496 bottles of codeine syrup at A.Y.A area of the city while a suspect, Ozioma Enoja, 31, was arrested in a follow up operation.
Another consignment of 400 bottles of the same opioid coming from Port Harcourt, Rivers state was also seized along Abaji-Abuja highway on Saturday 16th December after which a suspect, Bala Ishaq was arrested during a follow up operation at Zuba motor park.
While 17 bags of cannabis sativa weighing 195.8kg stored in a bush at Gbanke village, Orhionmwon LGA, Edo state were recovered by NDLEA operatives on Wednesday 13th December, anti-narcotic officers in Ogun state intercepted two suspects: Edun Olowokou and Tunde Elijah at Alamutu roundabout area of Abeokuta with bags of same psychoactive substance weighing 279kg.
In Borno state, NDLEA officers on Tuesday 12th December arrested Bukar Ali, 29, and Abacha Alhaji Fantami, 20, with 171kg of cannabis at Ngamdu, Kaga LGA, while three suspects: Jamilu Haruna, 22; Mohammed Hassan, 23; and Aminu Umar, 50, were nabbed with 57kg cannabis on Wednesday 13th December at Tsafe checkpoint, Zamfara state, when they were on their way to Zurumi, a village known as bandits’ enclave.
At least four suspects: Ezekiel Monday Thompson, 56; Hezekiah Ime, 20; Nsikak Okon Jonah, 39; and Chidi Kalu, 44, were arrested with a total of 121kg cannabis and 5.1grams of methamphetamine in parts of Cross River state on Monday 10th December.
The War Against Drug Abuse, WADA, advocacy campaign of the Agency continued in equal measure in schools, markets, worship places and others across the country in the past week.
Some of them include: WADA advocacy lecture for students of St. Margaret High School, Ilesa, Osun; students of Federal Government Girls College, Shagamu, Ogun; students of Wesley Model Primary and Secondary School, Badagry, Lagos; students and staff of Government Junior Secondary School and Government Girls Senior Secondary School, Yaryasa, Tudun Wada LGA, Kano state.
While commending the officers and men of the MMIA, Lagos, FCT, Imo, Edo, Borno, Ogun, Zamfara, and Cross River Commands for the arrests and seizures of the past week, as well as those of the Directorate of Prosecution and Legal Services for their diligent prosecution of cases in court, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) urged them and their compatriots across all formations of the Agency to intensify the offensive action tempo against drug cartels as the yuletide season approaches while maintaining an equal balance with their drug demand reduction efforts.
The Academic Staff Union of Universities (ASUU) has called on the Federal Government to transform the 50 billion naira allocated in the 2024 budget for the student loan scheme into grants.
Emmanuel Osodeke, the President of ASUU, appeared on Channels Television’s Hard Copy on Friday, highlighting the challenge of repaying loans in a country where post-graduation employment is uncertain as the basis for the Union’s proposal.
The ASUU president proposed that channelling the 50 billion nairas into grants would yield a more impactful and compassionate investment in the education of Nigerian students.
- “If the issue is just N50 billion, why can’t we convert that N50 billion as a country like Nigeria to grants for the children of the very poor?
- “Let’s give to those who cannot afford it, not give them as a loan that becomes a liability for them before they even graduate and are not sure of getting a job.
- “We are thinking of the Nigerian people, those who cannot afford it, those children who are in the villages whose parents earn less than N30,000 a month.
- “If it is just about 50 billion, the Nigerian government should give that 50 billion as grants to the students rather than giving it as a loan that will encumbrance them in the future and could make them start going to crime, to pay for this loan,” he said.
Condition for the loan unrealistic — ASUU
Drawing from past administrations’ attempts to introduce student loans, Osodeke expressed scepticism about the success of student loans, underscoring the failure of similar initiatives on two separate occasions.
In addition, he criticised the terms tied to the loan, expressing concern that they put students in rural areas at an economic disadvantage.
Addressing the budget allocation for the year, Osodeke raised doubts about the impact of a 50 billion naira loan, asking,
- “How many people will 50 billion go to as a loan?”
- “Look at the conditionality, which level 12 officer will sign for the children of the poor in the village to get access to the loan? How much was budgeted this year? — 50 billion…how many people will 50 billion go to as a loan?
- “In such a country where you easily have access to a Job after graduation cannot pay it back and they are suffering, or people committing suicide. Is it in Nigeria where the children are sure that even in 10 years, you might not get the employment that they can pay back the loan?” he said.
Backstory
President Bola Tinubu signed the student loan bill into law on June 12.
The objective of the law is to offer indigent Nigerians convenient access to higher education by facilitating interest-free loans through the Nigerian Education Loan Fund.
President Tinubu also revealed in October that the program would kick off in January 2024, and the Federal Government has earmarked N50 billion in the 2024 budget to support it.
[Nairametrics]
Year 2023 seems to be rosy for capital market investors as well as the insurance industry with equity investors gaining N11.7 trillion and insurers mobilising N1 trillion premium income in the outgoing year, LEADERSHIP Sunday can exclusively report.
This is despite the harsh economic scenario that has led to the death of many Small and Medium Enterprises (SMEs) as well as the exit of multinationals from the country.
The Nigerian equities market gained N11.734 trillion so far in the year as of December 14, 2023, as investors’ positive sentiment towards the market was sustained.
Since the beginning of the year, the equities market has witnessed an unprecedented rally and buying interest across sectors, especially in the financial services, consumer and industrial goods sub sectors which has continued to trigger massive bargain hunting in large company shares, pushing the key performance indices and stimulating activities in the market.
The market capitalisation gained N11.734 trillion from N27.915 trillion at the beginning of the year to close at N39.649 trillion as at December 14, 2023.
Similarly, the Nigerian Exchange (NGX) Limited All-Share Index (ASI) rose by 41.37 per cent from 51,251.06 points on December 30, 2022 to 72,455.83 points on December 14, 2023.
During this period, the NGX recorded N112.02 billion new issues listings across its equities market with the new listing of VFD Group by introduction of 190.027 million ordinary shares valued at N46.534 billion.
The chief executive officer of Crane Securities Limited, Mike Ezeh, said the emergence of President Bola Tinubu further energised the market since market participants have hope in his ability to rejig the economy and implement economy-friendly policies.
“The elections came and were hitch-free against all unification of the multiple exchange rate, review of monetary and fiscal policies, shake up major changes carried out at the apex bank and its overflow down to the deposit money banks across the country brought stability to the market.
“The commissioning of the first indigenous private refinery which has cyclical effect on both upstream and downstream operation of petroleum companies quoted in the market propelled the interplay in the market by some high-net-worth investors on many quoted companies resulting in high turnover in trading volumes of those companies leading to the significant increase in market capitalisation within the period,” he said.
Similarly, at the end of the third quarter of the year, the insurance industry had recorded N729.1billion gross premium income, with projection that it would hit N1trillion premium income by the time the last quarter results come out. If this happens, this will be the first time the industry will be recording this feat, eight years after it was expected to have hit the one trillion mark.
Hence, Nigerians have continued to take refuge in life insurance as a means of wealth security for their families, as they spent N265.39 billion in nine months amid tough economic realities.
According to the National Insurance Commission (NAICOM) in a document entitled: ‘Nigerian Insurance Market at a Glance – Q3, 2023’, individual life insurance class was the major driver of the insurance industry, contributing N265.39 billion, which is 36.4 per cent of the recorded N729.1 billion gross premium written.
NAICOM noted that group life was second with 34.5 per cent; oil and gas, 28.9 per cent, fire, 23.6 per cent and motor 18.1 per cent.
Moreover, the industry’s total size was N2.8 trillion, with total assets for non-life insurance amounting to N1.74 trillion and total assets for life was N1.07 trillion.
It said the industry’s total paid up capital was N422.3 billion; total capital, N848.9 billion and total statutory deposit N26.7 billion. The ratio of total claims to total premium, NAICOM said, was 50.1 per cent; ratio of claims paid to reported 70.9 per cent; ratio of claims paid to reported, non-life, 55.0 per cent and ratio of claims paid to reported, life, 94.9 per cent.
Meanwhile, the year 2023 for the Nigerian banking industry was as challenging as other years, albeit with more drama and impact as the country was almost ground to a halt in the early part of the year due the scarcity of cash.
Although, the financial industry and the country at large had witnessed many landmarks including a general election, the cash crunch which affected every life in the country still overshadowed all events, with its marks still felt by many.
A fallout of the naira redesign policy of the Central Bank of Nigeria (CBN) initiated in late 2022, the scarcity of cash began in the first month of the year and by March, banks had to close branches as they ran out of cash to give to customers.
Protests broke out in many parts of the country as customers could not access their funds and people ran out of food and funds. The cash scarcity saga had revealed the inadequacies of the banking industry in meeting the needs of a fast growing technological world and many banking applications also failed customers and transactions were almost impossible.
Aside the cash crunch, the value of the naira had plummeted to never seen before levels, affecting every facet of life and bringing inflation figures in the country to decades high. Inflation which now stands at 27.33 per cent had been impacted by not only the spike in the price of petroleum products but also in the value of the naira which had depreciated in value significantly.
From N450 to the dollar at the official end and N750 to the dollar at the parallel market it is currently selling at N1,200 on the streets and hovers between N950 and N1,000 at the official end of the market.
The controversy in the change in leadership at the apex bank is another major event that the aftermath still lingers with the former governor of the CBN still behind bars. The year 2023 stands as the year when the CBN had three governors in the space of six months.
The former governor, Godwin Emefiele, had been ousted by the new administration led by President Bola Ahmed Tinubu on charges of fraud and had been replaced by an acting Governor, Adebisi Shonubi, in June. However, Shonubi’s stay was short lived as he was replaced by the Dr Olayemi Cardoso late September.
Aside these, the financial industry also witnessed events such as the limiting of the tenure of executive directors, non-executive directors and deputy managing directors which saw many executives of banks and financial institutions leaving their jobs.
Whilst only four monetary policy committee meetings were held this year, benchmark interest rate had risen from 16.5 per cent in January to 18.75 as at July this year when the last meeting was held. The industry also witnessed forward facing strides with the CBN releasing guidelines on contactless payments in the country as well as operational guidelines for open banking in the country outlining the procedures that govern how banks and other financial institutions are permitted to access and manage customer data.
Year 2023 closes on high apprehension as the industry awaits the announcement by the Central Bank Governor, Dr Olayemi Cardoso, on the new capital base for banks in the country. Cardoso had a the Bankers’ Dinner in November announced that for the industry to be able to operate in the $1 trillion economy as projected by the president, there would be need to raise the capital base of banks.
The CBN had also announced an end to all its intervention programmes and plans to begin to recall the facilities given out from the yew year.
In the maritime industry, by January 2023, former president Muhammadu Buhari commissioned the $1.5bn Lekki Deep Seaport In Lagos.
The Lekki Deep Seaport is a joint venture between the federal government through the Nigerian Ports Authority (NPA), Lagos State government, Tolarams Group and China Harbour Engineering Company. The approach channel of the seaport measures about 11km long and 16.5m deep. LPLEL was created to develop, build and operate a standard user multipurpose port that sub-concessioned the container terminal operations to Lekki Freeport Terminal, a subsidiary of CMA-CGM.
On August 21, 2023, President Bola Tinubu swore in his 45-member cabinet with a few new ministries, including the Ministry of Marine and Blue Economy. Marine and Blue Economy is the sustainable use of ocean resources for economic growth to improve livelihoods and create jobs while preserving the health of marine and coastal ecosystems. The new ministry has the capacity to generate more than $1.5 trillion per year globally and will provide over 30 million jobs and supply a vital source of protein to over three billion people.
In November, 2023, the United Nations Assistant Secretary-General for Africa in the Departments of Political and Peacebuilding Affairs and Peace Operations, Martha Ama Akyaa Pobee, while presenting the Secretary-General’s report (document S/2022/818) on the situation of piracy and armed robbery at sea in the Gulf of Guinea, said such incidents had continued to decrease during the reporting period.
The steady decline resulted from concerted efforts by national authorities, with the support of regional and international partners; regular deployment of naval assets by international partners and piracy convictions in Nigeria and Togo in 2021, among others.
It would equally be recalled that to address long-standing macroeconomic imbalances and change the economic trajectory, the new government led by President Bola Tinubu introduced several reform policies, including fuel subsidy removal and foreign exchange unification. Furthermore, several palliative measures have been introduced to ease the effect on businesses, low-income people and the most vulnerable.
President Bola Tinubu had, in his inaugural address on May 29, 2023, announced the removal of the subsidy to lift a major financial burden off the back of the government. The Nigerian government had for decades subsidised and fixed retail prices of petroleum products.
However, a significant shift to a less restrictive forex policy came into force on June 14, 2023 as the Central Bank of Nigeria (CBN), under the recent administration granted banks the autonomy to determine their foreign exchange trading rates.
The director/CEO, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, stated that the liberalisation of the foreign exchange market would unlock the huge potential for investment, jobs and capital flows, saying investors’ confidence would be positively impacted.
According to Yusuf, it is important to reiterate that this is not a devaluation policy, it is a normalization of the foreign exchange policy regime and an adjustment of rate to reflect the fundamentals of demand and supply. It would be dynamic; and the naira will appreciate or depreciate depending on the fundamentals.
The CBN on October 11 issued a communique restating its commitment to enhance foreign exchange (FX) liquidity, addressing the recent FX challenges, and shared its six-point plan, one of which involves lifting the FX ban placed on 43 items.
The Organised Private Sector (OPS) expressed optimism that the lifting of foreign exchange restrictions hitherto placed on importing 43 items is a market-friendly step towards unifying the exchange rates and is expected to curtail inflationary pressures in the short term.
President / chairman of Council, Lagos Chamber of Commerce and Industry (LCCI), Dr. Michael Olawale-Cole stated; “LCCI wishes to commend the Central Bank of Nigeria (CBN) on the removal of the restrictions on 43 items previously banned and the decision to raise dollar supply to meet the demand pressure.
“It is also noteworthy the commitment of CBN to offset the FX backlog as part of the measures to address the current FX challenge plaguing the market.”
Though, Nigeria’s ICT sector contributes one of the greatest percentages to GDP, stakeholders claimed that given its many potentials, the sector should have achieved more in 2023.
They contend that the ICT sector has the capacity to completely transform the economy, but that its potential has not yet been fully realized due to a number of issues, including poor Quality of Service (QoS), limited forex supply, multiple taxation, naira devaluation, and broadband penetration.
Following the devaluation of the naira in June 2023, telecom operators made losses, according to their financial reports. For instance, MTN Nigeria Communications Plc and Airtel Africa Plc disclosed N479.11 billion in foreign exchange losses. From 461/$1 in December 2022 to 777/$1 in September 2023, MTN reported a forex loss of N232.8 billion on its net foreign currency liabilities in its nine-month financial report for the year.
The telecom company averred that it had to heavily rely on letters of credit to meet its capital expenditure requirements because there was not enough foreign exchange available in the market.
For Airtel, it stated, “Loss after tax was $13m driven largely by a foreign exchange loss of $471m recorded in finance cost before tax and $317m after tax because of the devaluation of the Nigerian naira in June 2023. This impact has been classified as an exceptional item.
“The exceptional item of $471m is on account of derivative and foreign exchange losses following the Nigerian naira devaluation in June 2023 (from 465 NGN/USD in May 2023 to 752 NGN/USD in Jun 2023). This has resulted in an exceptional tax gain of $154m. Tax exceptional items in the previous period benefited from the initial recognition of a deferred tax credit of $42m in Kenya.”
President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr. Tony Emoekpere, averred that though, the ICT sector is expanding quickly and is estimated to have contributed over 16 per cent of the country’s GDP in Q2, 2023, the industry could perform substantially better if some of the problems experienced by operators were resolved.
Emoekpere listed one of such challenges as multiple taxation, of which he tasked the Commission and other stakeholders to look at ways to addressing it, along with other challenges.
In the same vein, the chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, averred that telecom operators have continue to bear the brunt of multiple taxation and coerced compliance with tax and levy demands that have no legal basis by sub-nationals for years, adding that, this threatens investment, sustainability and industry growth.
The year 2023 saw an increase in agitation by telecom operators to increase call and data tariff. Citing increasing cost of business operations and the harsh economy, the telecom operators proposed an upward review of the mobile termination rate for voice services and the institution of an interim adjustment of the telecom industry’s floor price for voice and data services.
Head, Enterprise Sales, FiberOne Broadband Limited, Mr. Kenny Joda, also talked about the challenges faced by Internet Service Providers (ISPs). According to Joda, about 90 per cent out of the 568 indigenous ISPs in Nigeria are struggling due to multiple taxation, infrastructure, high cost of doing business and forex, among others.
[Leadership]
Rejects Akeredolu’s Chief Of Protocol
The last may not have been heard about the political crisis rocking Ondo State following the directive by the acting governor, Lucky Aiyedatiwa, that the accounts of the 18 local councils and 33 Local Council Development Areas of the state should be frozen.
The directive by Aiyedatiwa, who became acting governor a few days ago following months of cold war between him and loyalists of his boss, Governor Oluwarotimi Akeredolu, was contained in an official memo.
In the memo, the acting governor also directed the newly created LCDAs not to open new accounts.
The memo addressed to the Heads of Local Government Administrations read: “Distinguished HOLGAs, Your Excellency, the Acting Governor of Ondo State, has directed that all spending and expenditure from local government accounts should be suspended, with no signing of checks, no change of signatories and no withdrawal of any sort until further directive.
“Please adhere strictly to instruction and be guided.”
Meanwhile, the local council caretaker chairmen, who were appointed and sworn in two weeks ago before the emergence of Aiyedatiwa as acting governor, have expressed fears that they could be dismissed.
According to one of the local council chairmen, who confirmed the development on the condition of anonymity, the action of Aiyedatiwa has triggered apprehension among his colleagues.
[Guardian]
Arsenal are ready to sign £51million Sporting CP centre-back, Goncalo Inacio for their manager, Mikel Arteta.
Inacio has established himself as a vital player at the heart of Sporting’s defence since making his first-team debut in 2020.
The 22-year-old has been extensively scouted by Arsenal’s Premier League rival Liverpool in recent months.
However, according to Portuguese newspaper A Bola, Arsenal are ‘tightening their siege’ on signing the Portugal international ahead of the Reds.
The report added that the Gunners are already aware of the €60 million (£51.5m) release clause in the player’s deal with Sporting and are prepared to pay the fee for him to switch to Emirates Stadium in the January transfer window.
[DailyPost]
The Rivers State chapter of the Nigeria Labour Congress has threatened to take action over the political crisis rocking the state.
The congress said the crisis between Governor Siminalayi Fubara and state lawmakers loyal to the immediate past governor of the state and the Minister of the Federal Capital Territory, Nyesom Wike, was adversely affecting workers in the state.
The state NLC Chairman, Alex Agwanwo, stated this after a joint labour meeting in Port Harcourt on Saturday.
Recall that two factions emerged in the state House of Assembly after the explosion that rocked the legislative complex on October 29, 2023, following moves to impeach the governor.
About 26 lawmakers in the state House of Assembly led by the Speaker, Martin Amaewhule, said to be loyal to Wike recently defected from the Peoples Democratic Party to the All Progressives Congress.
Five members of the Assembly loyal to the governor led by the factional Speaker, Edison Ehie, declared the seat of the defecting lawmakers vacant.
The crisis led to the demolition of the state House of Assembly complex on Wednesday on the orders of the state government, which claimed that it was no longer ideal for legislative duties following October’s attack on it by political thugs, which resulted in the damage of some sections.
A close aide to the governor had told Saturday PUNCH that the list of commissioners, special advisers and other key aides as well as their portfolios was handed over to Fubara by his predecessor.
The aide, who spoke on condition of anonymity, said Fubara had no input into the appointments as his predecessor was solely responsible for their selection and appointment.
The source said the resignation of some of the commissioners was a confirmation that they were not the governor’s choices, but were rather imposed by Wike, who installed Fubara as his successor.
The aide stated, “Yes, the resignation of the commissioners has shown that they were not appointed by the governor. They were never his nominees. The list of the commissioners and advisers was handed over to the governor by the former governor with instructions on portfolios and offices to occupy. Even security agents were handed over to the governor with clear instructions on where to post them.
“Is there a way the governor can appoint commissioners, advisers and others and they will be resigning this way? It is not possible. Don’t forget that we are just about seven months in office. Commissioners appointed by the governor won’t leave.”
Responding to the claim by the FCT minister that the governor and all elected officials in Rivers State did not buy nomination forms from their pockets, the source said, “Yes, the former governor was correct to say he bought the forms for everyone. But pray, with which money? You know the salary of a governor and you know the cost of nomination and expression of interest forms for the Peoples Democratic Party.
“Let those who want to go leave and the governor will assemble members of his team, and not moles planted to spy on the administration.”
As a result, nine of the commissioners have resigned their appointments and there are indications that more will follow this week.
But Agwanwo condemned the plot to distract the governor from delivering good governance to the people of the state and called on all those involved to maintain the peace.
He condemned the crisis, adding that workers were being affected negatively as the focus on the crisis was not allowing the government to focus on their welfare.
The NLC chairman said, “We categorically condemn the crisis in Rivers State and we call for immediate restoration of peace among all the political actors involved so that we can have peace and prosperity in the state.
“Honestly, this crisis is not helping us. When two elephants fight, the grasses suffer. As workers, we are feeling the impact.
“The state is tensed. Our members are beginning to complain about the uprising and how their welfare is now being affected.
“The N35,000 wage award has been implemented by the Federal Government, but the state workers are yet to benefit from it.
“We have been engaging the state governor on how to implement this, but due to this crisis, the governor has not been able to have time for us.
“He has been very busy. For us, this distraction must stop.”
Agwanwo noted that the hope of workers in the state to have a good festive season had been dashed as the political war had prevented the governor from giving attention to governance and the welfare of workers.
He added, “It (crisis) is affecting governance, because it has not given the governor time to concentrate on the issues of state. In this festive period, we had expected that workers would rejoice because we hoped that we would have been paid the 13th month salary, which has not happened in this state for years.
“This is what we wanted to discuss with the governor, but because of these distractions we have not been able to meet with the governor, who has proven that he is worker-friendly.
“If this crisis continues and the political actors will not allow peace to reign in this state, we will have no choice but to make efforts to protect the benefits of our members. We will take every step legally to make sure that we advance the course of our members.”
[Punch]
More...
The last may not have been heard about post-election cases in many states as the fate of no fewer than 13 governors depends on the outcome of lawsuits challenging their electoral victory at the Supreme Court.
The affected states where the Court of Appeal judgments are being challenged by the opposition candidates in the March 18 governorship election include Kano, Plateau, Abia, Delta, Cross River, Rivers, Lagos, Sokoto, Nasarawa, Benue, Akwa Ibom, Taraba and Bauchi.
Teams of lawyers representing some of the aggrieved parties in the affected states have formally filed their processes in court as at last Friday while others who had vowed to approach the Supreme Court are expected to file their papers during the week at the registry of the court.
Chief Justice of Nigeria, Justice Olukayode Ariwoola, is also expected to empanel justices to hear the cases soon.
This is the last stage of the battle for the governors’ seats across the states where elections were held on March 18.
In essence, any governor who loses the case at the Supreme Court has to vacate office.
This is unlike the outcomes of the election dispute cases at the lower courts (election petition tribunal and the Court of Appeal) which permitted the governors to stay in office regardless of whether they won or lost.
The Supreme Court decision on appeals arising from the decision of the lower courts on gubernatorial elections in the country is final.
Between 1999 when the Fourth Republic birthed and 2019, not less than eight sitting governors whose elections were challenged to the Supreme Court were removed from office by the apex bench.
For instance, the apex court, in 2006, removed from office Dr Chris Ngige who was declared as the winner of the 2003 gubernatorial election in Anambra State when Ngige had almost completed his four-year tenure and replaced him with Mr Peter Obi of APGA. Peter Obi was eventually sworn in on March 17, 2006.
It had also towards the end of October 2007 sacked Chief Celestine Omehia who was sworn into office on May 29, 2007 as Rivers State Governor and ordered the immediate past Speaker of the state House of Assembly, Hon Rotimi Chibuike Amaechi, to be sworn-in as replacement having been found to be the authentic candidate of the PDP which was returned as winner of the April 2007 election in the state.
Omehia had ruled Rivers for five months before the Supreme Court sacked him and declared Amaechi as the validly elected governor of the state.
Other sitting governors who had, in the past, lost their seats to their rivals by virtue of the decision of the Supreme Court included Andy Uba of Anambra State who was sacked for Peter Obi, Prof Oserheimen Osunbor of Edo State who was sacked for Adams Oshiomhole, Olusegun Oni of Ekiti State who was sacked for Kayode Fayemi, Prince Olagunsoye Oyinlola of Osun State who was sacked for Rauf Aregbesola, Mukhtar Idris of Zamfara State who was sacked for Bello Matawalle, Emeka Ihedioha of Imo State who was sacked for Hope Uzodinma and David Lyon of Bayelsa State who was sacked for Douye Diri.
Apart from Kano State governor, Yusuf Abba, and Governor Caleb Muftwang of Plateau, the Appeal Court sitting in Abuja and Lagos had recently affirmed other governors’ victories at the March 18 election.
But the verdicts only left many opponents more aggrieved, forcing them to approach the apex court for justice.
Some of the judgments like the Kano and Plateau cases where the incumbents were sacked ended up heightening tensions in the respective states.
At the moment, both states appear to be sitting on a keg of gunpowder as they await the verdict of the Supreme Court.
Of the 36 states of the federation, elections were held in 28 states, with the All Progressives Congress, APC, winning 16, PDP, 9, Labour Party, LP, one, and New Nigeria Peoples Party, NNPP, one.
The states include Abia, Adamawa, Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Enugu, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Lagos, Nasarawa, Niger, Ogun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe and Zamfara.
But in what seems to have underscored the reading of the Supreme Court through its past decisions, some candidates had declined to challenge the Appeal Court judgments, describing any attempt at such as a futile effort.
However, others who vowed to challenge the verdicts at the Supreme Court have either approached the court, stoking tensions in the process, or on their way to lodge their processes at the registry of the apex court.
According to the law, an appeal to the Supreme Court should be filed within 14 days from the date of the judgment of the Court of Appeal.
The apex court has 60 days to hear the cases and deliver judgment.
The state-by-state analysis of the issue reveals reasons opponents are in court as well the pulse of the people ahead of the Supreme Court cases.
SOKOTO
Governorship candidate of the Peoples Democratic Party, PDP, in the March 18, 2023 governorship election in Sokoto State, Mallam Saidu Umar, alongside his party, has filed an appeal against the judgment of the Court of Appeal.
The Court of Appeal sitting in Abuja had upheld the election of Governor Ahmed Aliyu Sokoto as the winner of the election.
In a notice of appeal submitted to the Supreme Court, the appellants listed the incumbent governor, Ahmed Aliyu Sokoto, his deputy, Mohammed Gobir Idris, APC, and Independent National Electoral Commission, INEC, as respondents.
Umar and the PDP also listed nine grounds upon which they are asking the Supreme Court to set aside the concurrent judgments of the election petition tribunal and the Court of Appeal, which affirmed the election of Ahmed Aliyu Sokoto as governor.
LAGOS
The PDP in Lagos State said it has resolved to challenge the Court of Appeal judgment affirming Governor Babajide Sanwo-Olu (APC) as the winner of the March 18 governorship election.
State Publicity Secretary of the PDP, Hakeem Amode, disclosed this in a chat.
The party had earlier said it would review the judgment of the Court of Appeal before taking further action on the matter.
According to him, justice has not been properly served in the PDP governorship candidate, Olajide Adediran’s petitions against Sanwo-Olu’s re-election.
NASARAWA
The PDP governorship candidate in Nasarawa State, David Ombugadu, has approached the Supreme Court to nullify the victory of Governor Abdullahi Sule.
A copy of the notice of appeal filed by his legal team listed INEC, Sule Audu Alhaji, and APC as respondents.
The Court of Appeal in Abuja affirmed the election of Abdullahi Sule as governor of Nasarawa State on November 23, 2023.
The appellate court, in a unanimous decision by a three-member panel of justices, voided the verdict of the Nasarawa State governorship election petition tribunal, which sacked Governor Sule, candidate of APC.
BENUE
Dissatisfied by the dismissal of his suit challenging the victory of Governor Hyacinth Alia by the Court of Appeal, PDP governorship candidate in Benue State in the last general elections, Titus Tyoapine Uba, said he would approach the Supreme Court for final arbitration on the matter.
A statement by the state Publicity Secretary of the PDP, Chief Bemgba Iortyom, said the poll was won by Uba.
A three-man panel of justices at Appeal Court Abuja Division had dismissed the case filed by the PDP and its candidate seeking a declaration that both Alia and his deputy, Dr Sam Odeh, were not qualified to contest in the election.
The Appeal Court, in a unanimous judgment, held that Uba and PDP failed to prove allegations of forgery against Odeh, while others were pre-election issues which were statute barred.
Meanwhile, the Supreme Court upon receipt of the appeal from the appellants, ordered that all processes relating to the matter be served on the governor and his deputy through substituted service.
The court gave the order while ruling on an ex parte application filed by the counsel of the PDP and Uba.
It also fixed December 18, 2023, as the return date for proof of service on the respondents.
RIVERS
In Rivers State, governorship candidate of LP, Beatrice Itubo, said she has directed her legal team to challenge the Appeal Court judgment validating the victory of Governor Sim Fubara at the Supreme Court
Recall that a three-man panel of Appeal Court Justices dismissed Itubo’s petition alongside the petition of the governorship candidate of APC ,Tonye Cole, for lacking in merit.
Reacting to the ruling during a forum with the leadership of the South-South Youth Initiative, Itubo said although she is pleased with the activities of Fubara, her decision to challenge the judgment is to ensure justice is served.
PLATEAU
In Plateau, the state government said it has instructed its lawyers to file an appeal at the Supreme Court against the verdict of the Court of Appeal which sacked Governor Caleb Muftwang from office.
A three-member panel, in a unanimous decision, held that Muftwang was not validly sponsored by the PDP as provided by Section 285(2) of the Constitution.
According to a statement, the governor expressed “strong optimism that the mandate overwhelmingly given to him by the people of Plateau State would be restored, as he has instructed his legal team to file an appeal at the Supreme Court.”
The Court of Appeal verdict has resulted in a charged political atmosphere across the state.
AKWA IBOM
The victory of Governor Umo Eno of Akwa Ibom State is still being contested.
According to the governorship results declared by INEC, Eno polled 354, 348,000 votes to emerge winner of the election, while Senator Bassey Akpan of the Young Progressives Party, YPP, followed with 136, 262 votes. Obong Akan Udofia of the APC scored 129,602 votes.
Apart from the YPP and APC governorship candidates, Senator John James Akpanudoedehe of the NNPP, Ezekiel Nyak-Etok of African Democratic Congress, ADC, Mr Abraham Akpan of the Action Alliance, AA, and Emem Coffie of the Accord Party, AP, also challenged the outcome of the election.
On November 10, 2023, the Court of Appeal reaffirmed Eno as the validly elected governor and dismissed the appeals filed by the governorship candidates of AA and AP.
The three-man panel of the Appeal Court, Lagos Division ruled that the cases lacked merit.
The Appeal Court also quashed the appeals by the candidates of APC, YPP and NNPP for lacking merit
The court ruled that the appellants missed the point by arguing that since they were not parties in the case, the judgment on Eno’s certificate matter was not binding on them.
“The declaratory judgment of a competent court is a judgment in rem that is binding on the whole world, and not only on those who were parties in the case,” it said.
Aggrieved parties have since approached the Supreme Court, challenging the ruling.
However, Senior Special Assistant to the Governor on Research and Documentation, Dr. Easier Ndueso, told Sunday Vanguard that the date for hearing of the cases pending at the Supreme Court was yet to be communicated to the parties.
According to him, the parties that approached the apex court were the YPP, APC and AA.
The matter seems not to be generating any tension in the state as the opposition appears doubtful of getting justice.
CROSS RIVER
Prof Sandy Onor, the PDP governorship candidate in Cross River, has relentlessly tried to upturn the outcome of the March governorship election result in his favour.
He started litigation soon after Governor Bassey Otu picked the ticket of APC.
Onor alleged that Otu does not possess the prerequisite qualification to contest the election, claiming his West African School Certificate and degree certificates were forged.
He also claimed Otu’s running mate, Mr Odey, has United Kingdom citizenship.
The state High Court Calabar where he took the matter ruled in favour of the governor.
Not satisfied with the ruling, he proceeded to the Appeal Court in Calabar which again ruled in favour of Otu
After the declaration of the election results which he lost including his polling unit, Onor still instituted the same issues at the Governorship Election Petitions Tribunal sitting in Calabar.
But the tribunal struck out all three grounds of the petition by the PDP governorship candidate, saying the petition was incompetent, shambolic and a mere academic exercise.
All the three judges, Justice Okenya Inneh, Justice M Omar and Justice O Olatawusu, read their judgment in favour of Otu
The tribunal did not award costs.
But this was not the situation at the Appeal Court, Lagos Division where Onor headed after the tribunal ruling.
He was fined N4million for wasting the court’s time.
Not satisfied, Onor has taken the matter to the Supreme Court.
ABIA
At press time, it was not yet clear if there was any pending appeal against the election of Governor Alex Otti of Abia State at the Supreme Court.
Although the PDP, APC, and their candidates, Chief Okey Ahiwe and Chief Ikechi Emenike, respectively, had challenged Otti at both the tribunal and Court of Appeal, they lost.
In their respective initial responses after losing out at the Court of Appeal sitting in Lagos, both parties had vowed to proceed to the apex court in pursuit of justice.
But inquiries by Sunday Vanguard to confirm if they finally made real their threats were fruitless as none of the parties could volunteer any useful information on the matter.
While APC Chairman in the state, Dr Kingsley Ononogbu, did not pick up calls, PDP spokesman, Abraham Amah, declined comments on the matter.
APC and the PDP were the only political parties whose candidates challenged Otti’s victory.
Although it is not very clear what the situation is, Abia residents do not seem to lose sleep over both parties.
There is a general perception in the state that Otti does not have any litigation any more.
The spontaneous eruption of joy across the state that greeted Otti’s declaration as winner of the March 18 governorship poll is still fresh in the minds of Abians.
KANO
Ever since the Appeal Court sitting in Abuja nullified the victory of Kano State governor, Abba Yusuf, the ancient city of Kano has been gripped by tension.
The appellate court, in a unanimous decision by a three-member panel of justices, held that Yusuf was not a valid candidate in the gubernatorial election held in the state on March 18.
It maintained that evidence that was adduced by the parties established that the governor was not a member of NNPP at the time the election was held.
There had been several interpretations of the judgment following a difference between what was read in the court and the contents of the Certified True Copy, CTC, of the judgment.
At the court, the three-member panel, led by M. A. Adumein, upheld the judgment of the Kano State Governorship Election Petition Tribunal, which sacked Yusuf.
But in the concluding part of the CTC, it read that the issue was resolved against the APC and its candidate.
Consequently, Yusuf filed an appeal at the Supreme Court challenging his dismissal.
In the notice of appeal filed by the NNPP, INEC and APC were joined as respondents.
The document, which listed 10 grounds of appeal against the judgment of the appellate court, is seeking three reliefs from the apex court.
They include “an order allowing the appeal and setting aside the judgment of the Court of Appeal delivered on November 17, 2023, an order upholding the portion of the judgment of the Court of Appeal setting aside the judgment of the trial tribunal in petition No: EPT/RV/GOV/11/2023 and making an order as costs in favour of the appellant.”
The matter has generated so much interest, with several stakeholders calling on all parties to tread with caution.
There is uneasy calm among supporters of the governor and APC candidate, Nasiru Gawuna.
BAUCHI
Following the judgment of the Court of Appeal affirming the victory of Governor Bala Mohammed of the PDP, the major opposition candidate, Air Marshal Saddique Abubakar, retd, of the APC, has headed to the Supreme Court.
The judgment, which was earlier slated for December 18, was adjourned to an unknown date. This has created anxiety among politicians and their supporters in the state.
A civil engineer with a construction firm in Bauchi, Sule Adamu, told Sunday Vanguard that Mohammed seemed unbothered over the pending case because he is embarking on projects across the state.
“Politics is dynamic and diverse. Everyone is surprised at how the governor is going about governance as if there’s no case at the Supreme Court”, Adamu said.
“People are not worried about him. Just two weeks ago, he awarded contracts for over 16 road projects.
“I think he will win at the Supreme Court because the two lower courts affirmed his victory”.
A politician, who pleaded anonymity, on his part, however, said the APC governorship candidate has a genuine case.
“As a politician, I can tell you that it is not over until it over. APC still has a case in the court because everyone that knows that there was over-voting in some local government areas,” he said.
TARABA
In Taraba State, the gubernatorial candidate of NNPP, Professor Sani Yahaya, rejected the judgment of the Appeal Court affirming the victory of Governor Kefas Agbu in the March 18 election.
The Court of Appeal had dismissed the appeal by Yahaya.
Yahaya and his party had challenged the result of the election on the grounds of non-compliance with the Electoral Act, stating that Agbu didn’t score the majority of lawful votes cast.
But delivering judgment, the appellate court held that the reliefs sought by the NNPP candidate were inconsistent having faulted the outcome of the polls on grounds of non-compliance with the Electoral Act, yet praying the court to declare him winner of the same election.
DELTA
The fears that had gripped Delta State weeks before the November 24, 2023, Court of Appeal judgment seem to be no more after the appellate court in Lagos affirmed Governor Sheriff Oborevwori as the duly elected governor of the state.
The Delta State Governorship Election Petition Tribunal, sitting in Asaba, had, September 29, upheld the declaration of Oborevwori as winner of the March 18 governorship election by INEC.
The electoral body said Oborevwori won the election after securing 360,234 votes to defeat Senator Ovie Omo-Agege of the APC, who scored 240,229 votes. However, dissatisfied with the appellate court’s ruling, Omo-Agege and his Social Democratic Party, SDP, counterpart, Kenneth Gbagi, have since headed to the Supreme Court to challenge the verdict.
Omo-Agege, who is the immediate past Deputy Senate President, is seeking to be declared the winner of the polls.
Gbagi, who is also challenging the outcome of the election, in addition, is seeking the disqualification of Oborevwori and the gubernatorial candidates of all other political parties that contested with him in the governorship election.
No date has been fixed for the commencement of the hearing at the apex court, Sunday Vanguard learnt.
Dissatisfied by the dismissal of his suit challenging the victory of Governor Hyacinth Alia by the Court of Appeal, PDP governorship candidate in Benue State in the last general elections, Titus Tyoapine Uba, said he would approach the Supreme Court for final arbitration on the matter.
A statement by the state Publicity Secretary of the PDP, Chief Bemgba Iortyom, said the poll was won by Uba.
A three-man panel of justices at Appeal Court Abuja Division had dismissed the case filed by the PDP and its candidate seeking a declaration that both Alia and his deputy, Dr Sam Odeh, were not qualified to contest in the election.
The Appeal Court, in a unanimous judgment, held that Uba and PDP failed to prove allegations of forgery against Odeh, while others were pre-election issues which were statute barred.
Meanwhile, the Supreme Court upon receipt of the appeal from the appellants, ordered that all processes relating to the matter be served on the governor and his deputy through substituted service.
The court gave the order while ruling on an ex parte application filed by the counsel of the PDP and Uba.
It also fixed December 18, 2023, as the return date for proof of service on the respondents.
RIVERS
In Rivers State, governorship candidate of LP, Beatrice Itubo, said she has directed her legal team to challenge the Appeal Court judgment validating the victory of Governor Sim Fubara at the Supreme Court
Recall that a three-man panel of Appeal Court Justices dismissed Itubo’s petition alongside the petition of the governorship candidate of APC ,Tonye Cole, for lacking in merit.
Reacting to the ruling during a forum with the leadership of the South-South Youth Initiative, Itubo said although she is pleased with the activities of Fubara, her decision to challenge the judgment is to ensure justice is served.
PLATEAU
In Plateau, the state government said it has instructed its lawyers to file an appeal at the Supreme Court against the verdict of the Court of Appeal which sacked Governor Caleb Muftwang from office.
A three-member panel, in a unanimous decision, held that Muftwang was not validly sponsored by the PDP as provided by Section 285(2) of the Constitution.
According to a statement, the governor expressed “strong optimism that the mandate overwhelmingly given to him by the people of Plateau State would be restored, as he has instructed his legal team to file an appeal at the Supreme Court.”
The Court of Appeal verdict has resulted in a charged political atmosphere across the state.
AKWA IBOM
The victory of Governor Umo Eno of Akwa Ibom State is still being contested.
According to the governorship results declared by INEC, Eno polled 354, 348,000 votes to emerge winner of the election, while Senator Bassey Akpan of the Young Progressives Party, YPP, followed with 136, 262 votes. Obong Akan Udofia of the APC scored 129,602 votes.
Apart from the YPP and APC governorship candidates, Senator John James Akpanudoedehe of the NNPP, Ezekiel Nyak-Etok of African Democratic Congress, ADC, Mr Abraham Akpan of the Action Alliance, AA, and Emem Coffie of the Accord Party, AP, also challenged the outcome of the election.
On November 10, 2023, the Court of Appeal reaffirmed Eno as the validly elected governor and dismissed the appeals filed by the governorship candidates of AA and AP.
The three-man panel of the Appeal Court, Lagos Division ruled that the cases lacked merit.
The Appeal Court also quashed the appeals by the candidates of APC, YPP and NNPP for lacking merit
The court ruled that the appellants missed the point by arguing that since they were not parties in the case, the judgment on Eno’s certificate matter was not binding on them.
“The declaratory judgment of a competent court is a judgment in rem that is binding on the whole world, and not only on those who were parties in the case,” it said.
Aggrieved parties have since approached the Supreme Court, challenging the ruling.
However, Senior Special Assistant to the Governor on Research and Documentation, Dr. Easier Ndueso, told Sunday Vanguard that the date for hearing of the cases pending at the Supreme Court was yet to be communicated to the parties.
According to him, the parties that approached the apex court were the YPP, APC and AA.
The matter seems not to be generating any tension in the state as the opposition appears doubtful of getting justice.
CROSS RIVER
Prof Sandy Onor, the PDP governorship candidate in Cross River, has relentlessly tried to upturn the outcome of the March governorship election result in his favour.
He started litigation soon after Governor Bassey Otu picked the ticket of APC.
Onor alleged that Otu does not possess the prerequisite qualification to contest the election, claiming his West African School Certificate and degree certificates were forged.
He also claimed Otu’s running mate, Mr Odey, has United Kingdom citizenship.
The state High Court Calabar where he took the matter ruled in favour of the governor.
Not satisfied with the ruling, he proceeded to the Appeal Court in Calabar which again ruled in favour of Otu
After the declaration of the election results which he lost including his polling unit, Onor still instituted the same issues at the Governorship Election Petitions Tribunal sitting in Calabar.
But the tribunal struck out all three grounds of the petition by the PDP governorship candidate, saying the petition was incompetent, shambolic and a mere academic exercise.
All the three judges, Justice Okenya Inneh, Justice M Omar and Justice O Olatawusu, read their judgment in favour of Otu
The tribunal did not award costs.
But this was not the situation at the Appeal Court, Lagos Division where Onor headed after the tribunal ruling.
He was fined N4million for wasting the court’s time.
Not satisfied, Onor has taken the matter to the Supreme Court.
ABIA
At press time, it was not yet clear if there was any pending appeal against the election of Governor Alex Otti of Abia State at the Supreme Court.
Although the PDP, APC, and their candidates, Chief Okey Ahiwe and Chief Ikechi Emenike, respectively, had challenged Otti at both the tribunal and Court of Appeal, they lost.
In their respective initial responses after losing out at the Court of Appeal sitting in Lagos, both parties had vowed to proceed to the apex court in pursuit of justice.
But inquiries by Sunday Vanguard to confirm if they finally made real their threats were fruitless as none of the parties could volunteer any useful information on the matter.
While APC Chairman in the state, Dr Kingsley Ononogbu, did not pick up calls, PDP spokesman, Abraham Amah, declined comments on the matter.
APC and the PDP were the only political parties whose candidates challenged Otti’s victory.
Although it is not very clear what the situation is, Abia residents do not seem to lose sleep over both parties.
There is a general perception in the state that Otti does not have any litigation any more.
The spontaneous eruption of joy across the state that greeted Otti’s declaration as winner of the March 18 governorship poll is still fresh in the minds of Abians.
KANO
Ever since the Appeal Court sitting in Abuja nullified the victory of Kano State governor, Abba Yusuf, the ancient city of Kano has been gripped by tension.
The appellate court, in a unanimous decision by a three-member panel of justices, held that Yusuf was not a valid candidate in the gubernatorial election held in the state on March 18.
It maintained that evidence that was adduced by the parties established that the governor was not a member of NNPP at the time the election was held.
There had been several interpretations of the judgment following a difference between what was read in the court and the contents of the Certified True Copy, CTC, of the judgment.
At the court, the three-member panel, led by M. A. Adumein, upheld the judgment of the Kano State Governorship Election Petition Tribunal, which sacked Yusuf.
But in the concluding part of the CTC, it read that the issue was resolved against the APC and its candidate.
Consequently, Yusuf filed an appeal at the Supreme Court challenging his dismissal.
In the notice of appeal filed by the NNPP, INEC and APC were joined as respondents.
The document, which listed 10 grounds of appeal against the judgment of the appellate court, is seeking three reliefs from the apex court.
They include “an order allowing the appeal and setting aside the judgment of the Court of Appeal delivered on November 17, 2023, an order upholding the portion of the judgment of the Court of Appeal setting aside the judgment of the trial tribunal in petition No: EPT/RV/GOV/11/2023 and making an order as costs in favour of the appellant.”
The matter has generated so much interest, with several stakeholders calling on all parties to tread with caution.
There is uneasy calm among supporters of the governor and APC candidate, Nasiru Gawuna.
BAUCHI
Following the judgment of the Court of Appeal affirming the victory of Governor Bala Mohammed of the PDP, the major opposition candidate, Air Marshal Saddique Abubakar, retd, of the APC, has headed to the Supreme Court.
The judgment, which was earlier slated for December 18, was adjourned to an unknown date. This has created anxiety among politicians and their supporters in the state.
A civil engineer with a construction firm in Bauchi, Sule Adamu, told Sunday Vanguard that Mohammed seemed unbothered over the pending case because he is embarking on projects across the state.
“Politics is dynamic and diverse. Everyone is surprised at how the governor is going about governance as if there’s no case at the Supreme Court”, Adamu said.
“People are not worried about him. Just two weeks ago, he awarded contracts for over 16 road projects.
“I think he will win at the Supreme Court because the two lower courts affirmed his victory”.
A politician, who pleaded anonymity, on his part, however, said the APC governorship candidate has a genuine case.
“As a politician, I can tell you that it is not over until it over. APC still has a case in the court because everyone that knows that there was over-voting in some local government areas,” he said.
TARABA
In Taraba State, the gubernatorial candidate of NNPP, Professor Sani Yahaya, rejected the judgment of the Appeal Court affirming the victory of Governor Kefas Agbu in the March 18 election.
The Court of Appeal had dismissed the appeal by Yahaya.
Yahaya and his party had challenged the result of the election on the grounds of non-compliance with the Electoral Act, stating that Agbu didn’t score the majority of lawful votes cast.
But delivering judgment, the appellate court held that the reliefs sought by the NNPP candidate were inconsistent having faulted the outcome of the polls on grounds of non-compliance with the Electoral Act, yet praying the court to declare him winner of the same election.
DELTA
The fears that had gripped Delta State weeks before the November 24, 2023, Court of Appeal judgment seem to be no more after the appellate court in Lagos affirmed Governor Sheriff Oborevwori as the duly elected governor of the state.
The Delta State Governorship Election Petition Tribunal, sitting in Asaba, had, September 29, upheld the declaration of Oborevwori as winner of the March 18 governorship election by INEC.
The electoral body said Oborevwori won the election after securing 360,234 votes to defeat Senator Ovie Omo-Agege of the APC, who scored 240,229 votes. However, dissatisfied with the appellate court’s ruling, Omo-Agege and his Social Democratic Party, SDP, counterpart, Kenneth Gbagi, have since headed to the Supreme Court to challenge the verdict.
Omo-Agege, who is the immediate past Deputy Senate President, is seeking to be declared the winner of the polls.
Gbagi, who is also challenging the outcome of the election, in addition, is seeking the disqualification of Oborevwori and the gubernatorial candidates of all other political parties that contested with him in the governorship election.
No date has been fixed for the commencement of the hearing at the apex court, Sunday Vanguard learnt.
[Vanguard]
Nasir el-Rufai, former governor of Kaduna, has been conferred with the chieftaincy title of Gbobaniyi of Ijebuland.
Oba Sikiru Kayode Adetona, the Awujale of Ijebuland confered the former governor with the title on Saturday
Jimi Lawal, a former governorship hopeful in Ogun, and his wife, Maryam, were also cconferred with chieftaincy titles by the monarch.
El-Rufai is the first person outside the south-west to be conferred with chieftaincy title by the monarch.
El-Rufai served as the governor of Kaduna between 2015 and 2023.
Seun Kuti, the Afrobeat singer, has revealed why he does not believe in God.
In an interview with Hip TV, Seun said he doubts the existence of a creator responsible for the world.
He critiqued the idea that humans are God’s most prized possession, stating that the widespread poverty and suffering contradicts the claim.
The singer alluded to the possibility of “something” beyond what traditional religions portray.
“I do not believe in God. I do not believe in the concept of this guy watching everyone and he will judge you when you die,” he said.
“I do not believe in the concept that people believe in God. I do not believe that there is something responsible for the creation of the world.
“I mean who wants to create this? If someone created this, are we supposed to be giving the person credit?
“80 percent of human beings are living in hunger and we are supposed to be his most prized possession. There is something but not the way we are told that it is.”
Seun has always been vocal about his stance on religion.
In 2013, he said he was happy being an atheist.
The singer has released songs like ‘Bad Man Lighter’, ‘Opposite People’, ‘African Soldier’, ‘Kalakuta Boy’, and ‘Slave Masters’.
He has also received several recognitions for his craft.
The family of John Okafor, the ailing actor better known as Mr. Ibu, has dismissed claims that his second leg was amputated.
On November 6, Ibu’s family revealed that the actor’s leg had been amputated after undergoing seven surgeries.
On Saturday, rumours swirled that the actor’s condition had deteriorated and that he could barely speak.
There were also claims that his second leg had been amputated.
But in a statement via his Instagram page, the actor’s family debunked the rumours.
The statement said further amputation was done on the same leg because the initial procedure did not improve the actor’s condition.
It added that the cause of Ibu’s ailment was a “constant clotting of the blood” in his leg.
The actor’s family urged his industry colleagues and fans to stop circulating unconfirmed reports and pray for him.
“First we would like to state that our daddy wasn’t amputated on both legs but only one,” the statement reads.
“The first amputation didn’t completely correct his health predicament so the doctors had to amputate the same leg further to ensure we didn’t lose him.
“Daddy’s cause of sickness is also not diabetes but he’s had constant clotting of the blood in his leg (diseased blood vessels) and other health challenges, therefore the need for the amputation.
“Lastly, the only reason why the family has not flown him out of the country to date is because the doctors have tagged him not fit to fly.
“Daddy is currently admitted at one of the best hospitals in Nigeria and the hospital has availed him a pool of very astute professionals.”